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Sugar #11 Oct '23 (SBV23)
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Sugar #11 Futures Market News and Commentary

Sugar Continues Lower on Favorable Brazil Weather

July NY world sugar #11 (SBN23) on Friday closed down -0.75 (-3.01%), and Aug London white sugar #5 (SWQ23) closed down -16.60 (-2.46%).

Sugar prices on Friday extended Thursday's sharp sell-off and fell to a 2-month low, generating technical selling pressure.  Sugar prices fell sharply this week, mainly on warmer Brazilian weather forecasts that reduced the chances for damaging frost.  Sugar prices also saw continued carry-over pressure from Sunday's news that China's May sugar imports sank -87% y/y to 40,000 MT.  China is the world's largest sugar importer.  

The ongoing sugar harvest in Brazil is a negative factor for sugar prices.  Last Tuesday, Unica reported Brazil's 2023/24 sugar production through May was up +37.7% y/y at 6.972 MMT and that the percentage of sugarcane crushed for sugar rose to 46.88% from 40.5% last year.  On Apr 26, Conab forecasted that Brazil's 2023/24 sugar output would climb +4.7% y/y to 38.8 MMT, the second most ever, as crops recover from... Read more

Contract Specifications

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Contract
Sugar #11
Contract Size
112,000 pounds (50 long tonnes)
Tick Size
0.01 cents per pound ($11.20 per contract)
Trading Hours
2:30a.m. - 12:00p.m. (Settles 11:55a.m.) CST
Exchange
ICE/US
Point Value
$1,120
Margin/Maintenance
$1,478/1,344
First Notice Date
10/02/23 (101 days)
Expiration Date
09/29/23 (98 days)

Seasonal Chart

Sugar #11 Oct '23
Average Price Chart for 5 Prior Oct Contracts

Commitment of Traders Positions as of Jun 20, 2023

View Chart Details
Commercials - Long / Short
395,116 (-25,442)
705,878 (-13,068)
Non-Commercials - Long / Short
342,320 (+11,641)
81,319 (+1,900)
Producers - Long / Short
269,833 (-22,343)
491,823 (+15,265)
Swap Dealers - Long / Short
91,257 (+1,064)
180,029 (-24,170)
Managed Money - Long / Short
268,094 (+18,156)
41,412 (-2,385)
Other Reportables - Long / Short
74,226 (-6,515)
39,907 (+4,285)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
24.01 +1.17%
on 06/06/23
26.19 -7.25%
on 06/20/23
-1.20 (-4.71%)
since 05/23/23
3-Month
19.92 +21.94%
on 03/24/23
26.43 -8.10%
on 04/27/23
+4.18 (+20.79%)
since 03/23/23
52-Week
16.23 +49.66%
on 10/31/22
26.43 -8.10%
on 04/27/23
+6.48 (+36.38%)
since 06/23/22

More Sugar #11 Quotes

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Sugar Continues Lower on Favorable Brazil Weather

July NY world sugar #11 (SBN23 ) on Friday closed down -0.75 (-3.01%), and Aug London white sugar #5 (SWQ23 ) closed down -16.60 (-2.46%). Sugar prices on Friday extended Thursday's sharp sell-off and...

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Barchart Trading Guide

The Barchart Trading Guide is a Buy Signal with a Soft Signal Strength.

Key Turning Points

3rd Resistance Point 25.61
2nd Resistance Point 25.30
1st Resistance Point 24.79
Last Price 24.29s
1st Support Level 23.97
2nd Support Level 23.66
3rd Support Level 23.15

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52-Week High 26.43
Last Price 24.29s
Fibonacci 61.8% 22.53
Fibonacci 50% 21.33
Fibonacci 38.2% 20.13
52-Week Low 16.23

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